Global Hydraulic Cylinder Market size was over USD 10 billion in 2015 and is set to witness growth over 6% up to 2025.
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Growing demand for material handling equipment along with ongoing construction activities for contributing economic development will propel the global hydraulic cylinder industry. Growing application across luffing cranes, overhead traveling cranes, forklifts and agricultural machines will raise the product demand in the coming years.
Rising demand for advanced agriculture machinery along with increasing population size will stimulate the demand for hydraulic cylinder. Moreover, expanding infrastructural development by developing economies will further drive the business landscape. For instance, as per the India Brand Equity Foundation, in June 2018, the Asian Infrastructure Investment Bank has announced to invest USD 200 million in the National Investment & Infrastructure Fund for the development in India.
|Market Size in 2015:||10 Billion (USD)|
|Forecast Period:||2016 to 2025|
|Forecast Period 2016 to 2025 CAGR:||6%|
|2025 Value Projection:||16 Billion (USD)|
|Historical Data for:||2013 to 2014|
|No. of Pages:||165|
|Tables, Charts & Figures:||485|
|Segments covered:||Function, Product, Application and Region|
|Pitfalls & Challenges:|
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Increasing usage of fracturing and cracking equipment for the exploration and production of shale oil and gas will favor the industry growth in the coming years. Collection of debris, storage, sand, and saltwater are some of the critical operations which can be complete by offshore lifting equipment in harsh conditions which in turn will further drive the demand for these products over other.
Hydraulic Cylinder Market, By Function
Single acting hydraulic cylinder industry will witness growth over 4% by 2025. Growing demand for material handling equipment in the food & beverage industry to create linear motion for the conveyor belts and assembly lines will drive the installation for these products. Additionally, rising usage for emission less, energy efficient and low maintenance equipment to ensure the smooth operation across various industries including manufacturing, chemical and F&B will further favor the industry outlook.
Double acting hydraulic cylinder market is estimated to reach over USD 11 billion by 2025. Growing usage of steam engines along with ongoing efforts to deploy energy efficient equipment across various industries will drive the industry outlook. Moreover, demand is anticipated to exceed further across the areas where the working fluid acts alternately on both sides of the piston such as forklifting, heavy trucks, earth moving equipment amongst other.
Hydraulic Cylinder Market, By Product
Tie rod hydraulic cylinder industry will witness growth of over 4% by 2025. Increasing usage of agricultural equipment for farming to expedite the production capacity in line with the rising population rate will augment the industry dynamics. For instance, as per the International Trade Administration, Russian agricultural market has potential to boost the economy with 220 million hectares of land.
Welded hydraulic cylinder industry is anticipated to witness growth over 4% by 2015. Increasing deployment of industrial equipment at the project site to effectively run the ongoing operation along with surging investment across mining industry will drive the business landscape.
Hydraulic Cylinder Market, By Application
Mobile application of hydraulic cylinder is set to expand over 4% by 2025. Rising investment across chemical industry to cater the requirement of linear motion will drive the product demand. Additionally, growing construction activities on account of rising urbanization will further stimulate the product penetration.
Continuous rise in investments across food & beverage industry to cater the growing consumer demand will boost the installation for hydraulic cylinder across industries. For instance, as per the United Nations Industrial Development Organization (UNIDO), the total value of Germany’s food & beverages industry has reached to USD 46,232 million in 2017 when compared to USD 41,023 million in 2005.
Hydraulic Cylinder Market, By Region
Canada market size is expected to surpass over 4% by 2025. Increasing investment across construction industry will drive the technology demand over the forecast period. In addition, rising government efforts to strengthen aerospace and defense industry will enhance the product penetration in the country.
Rising investment toward food & beverage business along with the growing consumer spending on packaged food will augment the Germany hydraulic cylinder industry growth. Additionally, growing number of large-scale industries including aerospace, defense & military, petrochemical and construction has necessitated the deployment of material handling equipment which in turn will further drive the business dynamics.
China hydraulic cylinder market size is expected to surpass over 5% by 2025. Burgeoning demand for efficient components across various industries along with growing investment toward expansion of manufacturing facilities will further drive the industry outlook.
Competitive Market Share
Eminent players across the hydraulic cylinder industry comprises Prince Manufacturing Corporation, Aggressive Inc, Eaton Corporation PLC, Bosch Rexroth AG, Best Metal Products, Wipro Infrastructure Engineering, Caterpillar Inc., Enerpac Corp., Hyco International, Inc, Hydrosila, Pacoma GmbH, Parker-Hannifin Corporation, Weber-Hydraulik Group, Texas Inc, Norrhydro Oy, amongst others.
Continuous product development and geographical expansion are some of the key strategies followed by hydraulic cylinder manufacturers to achieve competitive advantage. In addition, growing application of these products across energy intensive industries will further create favorable business opportunities for industry players.
Hydraulic Cylinder Industry Background
Hydraulic cylinder is a mechanical actuator which is used to provide unidirectional force with the help of unidirectional stroke. It has extensive application in industrial, construction, manufacturing and agricultural equipment. The hydraulic cylinder consists of cylindrical barrel, in which a piston connected to piston rod which moves back and forth. Rapid industrialization across emerging economies along with rising population will drive the industry growth.